As at 12.38pm, shares in Rex are trading 0.4 cents lower or 2.21% down at 17.7 cents.
Rex International’s indirect wholly-owned subsidiary, Rex Oman, has initiated a process to explore debt financing alternatives for its Oman activities.
The new financing is expected to be incurred by an indirect wholly-owned subsidiary of Rex. Upon completion, the proceeds from the new financing will be used for Masirah Oil Limited’s assets in Oman and general corporate purposes. Masirah Oil is 87.5%-held by Rex Oman.
